Arvind SmartSpaces Ltd., the real estate arm of textile major Arvind Ltd., is planning to go national, riding on the brand equity and credibility of its parent. The company plans to invest ₹250 crore during 2019.
The company has announced plans to expand into two or more cities to grow its footprint and achieve its goal of ₹1,000-crore revenue by March 2022, a top executive said.
Horizontal expansion
“We have been growing at a rate of 25% to 35% CAGR but to achieve scale, we need to go for horizontal expansion. We have already decided to foray into Pune market with one project.
“We are also exploring the possibility of having residential projects in Hyderabad and Mumbai,” said Kamal Singal, managing director and CEO, Arvind SmartSpaces.
The company is already executing projects in Bengaluru, Ahmedabad and Gandhinagar, he said.
At the moment, the company is executing more than 13 million square feet of real estate projects in these markets.